Zenith Bank Issues Strong Warning to Nigerians Over AI-Generated Jim Ovia Investment Scam
- Zenith Bank Plc has disowned a fake video circulating online that falsely shows its chairman, Jim Ovia, promoting an investment scheme
- The bank described the clip as manipulated and clarified that neither Ovia nor the institution has any connection to the platform being advertised
- It urged the public to disregard the video and remain cautious of fraudulent investment offers shared on social media
Zenith Bank Plc has firmly rejected and denounced a circulating video that falsely purports to show its Group Chairman, Jim Ovia, endorsing an investment opportunity.
The bank issued the disclaimer in a strong public statement posted on its official X (formerly Twitter) account on Tuesday, February 16, 2026.
Source: Twitter
The manipulated clip, which has been widely shared on social media — reportedly originating from a Facebook account called “Greece Island” — promotes a so-called investment platform branded “Wealth Bridge”.
The fraudulent video claims participants can earn weekly returns of up to N2 million from an initial investment of N380,000, and even falsely asserts that the investment carries the approval of the Central Bank of Nigeria.
In its disclaimer, the bank stated:
"This claim is entirely false and has no connection whatsoever to the Group Chairman, the bank, or any of its affiliate companies."
Zenith Bank stressed that neither Jim Ovia, the bank, nor any of its affiliate companies has any connection whatsoever with the scheme or the entities behind it.
It stated:
"For the avoidance of doubt, all the videos and promotional materials referenced above are FAKE and nothing to do with Zenith Bank or Dr. Jim Ovia, CFR."
The clip misleads viewers by redirecting them to a fake webpage posing as an Arise News site that includes registration links for the bogus scheme.
The bank strongly urged members of the public to disregard these communications and be cautious of investment solicitations that are not verified through official and credible channels.
Zenith Bank’s clarification underscores the growing problem of deep-fake and AI-generated content being used to deceive the public and to make fraudulent schemes appear legitimate.
By putting the spotlight on this issue, the bank hopes to prevent unsuspecting Nigerians from falling victim to scams that exploit respected public figures for credibility.
Recently, the Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala, warned the public about a fraudulent AI-generated video that wrongly showed her endorsing a comparable investment scheme.
Source: Getty Images
It would be recalled that the Securities and Exchange Commission of Nigeria has repeatedly warned Nigerians to avoid putting money into unregistered investment schemes and to always confirm the legitimacy of any platform via its official SEC portal before investing.
NCC warns against "Wangiri" missed call scam
In related news, Legit.ng reported that the Nigerian Communications Commission (NCC) issued a cautionary alert to the public regarding the rampant "Wangiri" phone scams.
This development follows the Commission's earlier public notice that it had received complaints from over 20,000 Nigerians who have fallen victim to telecom fraud.
In this type of scam, perpetrators make brief calls to individuals, promptly disconnecting and expecting the recipient to initiate a return call.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
